Inflation initiated by increases in wages or other resource prices is labeled:
A. demand-pull inflation.
B. cost-push inflation.
C. demand-push inflation.
D. cost-pull inflation.
Answer: B
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Cutting taxes
A) will raise disposable income and lower spending. B) will lower disposable income and raise spending. C) will raise disposable income and raise spending. D) will lower disposable income and lower spending.
As a result of moving more decision making from the periphery of the organization toward the center, typically
a. the flow of information to the decision maker that is relevant to the decision can be weakened b. the flow of information from the decision maker that is relevant to the decision should be enhanced c. the incentive structure for the decision maker should be strengthened d. the incentive structure are usually already in place
One reason why purchasing power parity may not work perfectly is that transportation costs reduce trading possibilities
a. True b. False
A perfectly competitive firm can sell as large a quantity as it wishes, so long as it accepts the prevailing market price
a. True b. False Indicate whether the statement is true or false